The pump price of compressed natural gas will jump 37% on Thursday evening, to bring it in line with the global oil price, PTT announced on Thursday.

PTT president and chief executive Tevin Vongvanich said the retail price of CNG, marketed as NGV, will rise to 14.58 baht per kilogramme "this evening". He did not specify the exact time.

The new price is a 37% rise on the present price tag of 10.62 baht/kg.

It will not apply to local public buses operated by the Transport Co and the Bangkok Mass Transit Authority, he said.

However, interprovincial buses operating under Transport Co licences, and all other vehicles, will have to pay the new price.

CNG is widely used as an alternative fuel for private vehicles, along with liquified petroleum gas (LPG), and is also used in bi-fuel modified diesel vehicles such as trucks, pickups and public transport. Its price has been partially capped by PTT for almost a decade to help them contain costs.

The wholesale price of CNG used in the transport sector is totally controlled by PTT. Retailers such as Bangchak, Scan Inter and Susco set their own pump prices.

The CNG price increase comes after the rise of crude oil prices in the global market. The rose from US$38 in 2016 to $60 or more this year. Prices of oil and natural gas normally work in tandem.